Email of the day on stops and my personal portfolio:
Comment of the Day

August 12 2020

Commentary by Eoin Treacy

Email of the day on stops and my personal portfolio:

Why did you not share the fact that you had stop losses at USD 2,000 for gold and USD 27.50 for silver? I consider this just as important as sharing the information on the purchase and sale of your positions. Especially in light of the fact that your mantra has been for a long time that PMs are "potentially due for a consolidation" which leaves your subscribers pretty much in the dark of how you intend to act if and when the "potential consolidation" sets in and what in your personal view is the right way of (re-)acting. Sharing only ex-post the information that you actually had stop losses in place AFTER they are executed feels more like " adding insult to injury".


I wondered whether you can communicate in earlier fashion to your subscribers when you are trading. You don’t trade often, but with high conviction when you do. After seemingly having high conviction in a potential decade long bull market in Gold, I was a little surprised to learn you’d had a tight stop on your Gold position, this exiting at $2,000. Only the day before you were talking about Gold having lots of room to consolidate. With the decline moving through $1,900 temporarily at least, it seems you were right to sell, but I wonder how we as investors can access that critical data point in more real time. By the time we learned of it this morning, Gold had already moved through $1,900. Similarly, Silver experienced the same sort of fall, only steeper given its more volatile nature.

Eoin Treacy's view

Thank you both these emails which offer me an opportunity to clarify some points both with the provision of my personal portfolio trades and my approach to profiting from the unfolding bull market in precious metals.

My personal portfolio is provided as a public service not as a model portfolio or as a recommendation for what you should do. Inevitably some subscribers will follow my trades but these are not recommendations. In fact, we have never made recommendations because who would they be for? The reality is subscribers come from all walks of life and financial means; ranging from private individuals right up to sovereign wealth funds. Advice for one person would in no way be appropriate for another.

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